Swiss Life acquires senior citizens' center in Germany
The property in Bruchsal with 90 units will be transferred to the open-ended real estate fund "Living and Working".
Swiss Life has acquired the "Seniorenzentrum Bundschuh" nursing home in Bruchsal (Baden-Württemberg). The seller is VVA Vermögensverwaltungs GmbH & Co. KG. The acquisition was made for the open-ended mutual property fund "Swiss Life Living + Working", which was launched under German law.
The nursing home is operated by AWO Seniorenzentrum Bundschuh GmbH, which has been running the existing building since its construction in 2003. A new building is currently being added to the senior center. Extensive refurbishment of the existing facility is also being carried out as part of this project development. After completion, the nursing home will have a total of 90 places (45 places each in the old and new building) and an area of approx. 4,700 m². In addition, four handicapped-accessible apartments with a rental area of just under 300 m² will be built in the new building. Completion of the entire project is scheduled for the end of 2024.
Bruchsal is located about 20 km north of Karlsruhe and has 44,600 inhabitants. The "Living + Working" fund buys German and European real estate in the residential and healthcare segments as well as office and retail. The fund assets amount to more than 1 billion euros 5 years after launch. (aw)
